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Energy & Environment
Electrica posts net profit down by over 38% after the first nine months of 2024
Thursday, November 21, 2024
In the first nine months of this year, the Electrica Group registered a net profit of 302.4 million RON, down by over 38% compared to the value of 490.5 million RON recorded in the same period period in 2023.According to a press release from the group, sent to AGERPRES on Friday, the decrease was mainly generated by the negative effect of 438.3 million RON from the variation in the net result of the supply segment (from a profit of 78.5 million RON in 9 months from 2023 to ...
Landmark EPCM contract for Cernavoda Units 3 and 4 signed in Baku
Thursday, November 21, 2024
National nuclear energy producer Nuclearelectrica, project company Energonuclear and the consortium of Fluor, Sargent & Lundy (U.S.), Atkins Realis (CANDU - Canada ) and Ansaldo (Italy) signed on Friday in Baku, on the occasion of the COP 29 meeting, a landmark contract for the construction of Cernavoda nuclear power plant Units 3 and 4, the Romanian Energy Ministry announced in a release.At the General Meeting of Nuclearelectrica SA Shareholders held on November 14, ...
EU Approves €790M Aid for Closure of Valea Jiului Coal Mines
Thursday, November 21, 2024
The European Commission approved, on Friday, under EU rules on state aid, a Romanian state measure worth 790 million euros (approximately 3.9 billion lei) to cover the exceptional costs generated by the closure of four uncompetitive coal mines in the Jiu Valley (Lonea, Lupeni, Livezeni and Vulcan), a press release from the European Commission informs. Romania has notified the Commission of a measure worth EUR 790 million (approximately RON 3.9 ...
Defic Globe, strategic investment in Romania in the field of renewable energy
Thursday, November 21, 2024
*Company plans to build 4 new renewable energy plants and opens office in Bucharest. Defic Globe, a subsidiary of YEO Technology – a global brand in renewable energy and energy technologies – is expanding its presence on the Romanian market through strategic investments. The company plans to build four new solar power plants locally, contributing to the country’s renewable energy targets. At the same time, Defic Globe ...
Transelectrica doubles net profit in Jan-Sep
Thursday, November 21, 2024
The National Electricity Transmission and System Operator Transelectrica recorded, in the first nine months of 2024, a net profit of 410 million RON, up 99% compared to the same period of the previous year, according to a report submitted to the Bucharest Stock Exchange on Thursday.In the first nine months of 2023, Transelectrica reported a net profit of 207 million RON.The gross result increased to 448 million RON, in the period January-September 2024 (from 234 ...
Solar energy produced in photovoltaic installations up 58.6 pct in first nine months of the year
Thursday, November 21, 2024
The solar energy produced in photovoltaic installations in the period January 1 - September 30, 2024 was 2.93 billion kWh, up 58.6% year-over-year, according to data published by the National Institute of Statistics (INS).The figures for solar energy produced in photovoltaic installations also include prosumers.Production from thermal power plants amounted to 12.64 billion kWh, down by 0.3%, production from hydro power plants amounted to 11.46 billion kWh, ...
Romania's first LNG and bioLNG filling station opens in Pecica
Thursday, November 21, 2024
Vulcangas Romania, a subsidiary of Societa Italiana Gas Liquidi S.p.A., opened on Wednesday in the town of Pecica - Arad County Romania's first LNG and bioLNG (including CNG and bioCNG) filling station.According to a company statement, the new infrastructure represents a beginning for cleaner and more sustainable high-tonnage transport, a step towards the real and pragmatic decarbonisation of heavy and commercial transport.Vulcan's station in Pecica marks ...
EC to refer Romania to CJEU for failure to adequately collect and treat urban waste water
Thursday, November 21, 2024
The European Commission decided on November 14 to refer Bulgaria and Romania to the Court of Justice of the European Union for failing to fully comply with the collection and treatment obligations set in the urban waste water treatment directive (Directive 91/271/EEC), the Community Executive said in a release.The purpose of the Directive is to protect people's health and the environment by requiring that urban waste water is collected and treated before discharge into the ...
Works start for new energy group at Oradea Electric Heating Plant on investment of 48 million euros
Thursday, November 14, 2024
The mayor of Oradea, Florin Birta, announced on Wednesday the start of works on a major investment in the city's heating system, by replacing the existing energy group 1 with a modern one, a project worth about 48 million euros, financed from the state budget (85%) and from the local budget (15%)."Until the end of next year, all the thermal energy produced in Oradea will come from new, efficient installations, which reduce losses and ...
Net profit up 91 pct for Oil Terminal at end of first nine months of 2024
Thursday, November 14, 2024
Oil Terminal SA reported a net profit of 45.26 million RON, up 91.25% in the first nine months of this year compared to the same period in 2023, according to revised financial results published on Wednesday on the Bucharest Stock Exchange (BVB).The company's revenues totaled 354.3 million RON, 35.2% higher compared to September 30, 2023, while total expenses of 301.3 million RON were 28.2% higher compared to the same period.As of ...
EnergyMin Burduja: Vertical Gas Corridor has a vital role in strengthening energy security,
Thursday, November 14, 2024
The Vertical Gas Corridor has a vital role in strengthening energy security and eliminating Europe's dependence on Russian gas, the Minister of Energy, Sebastian Burduja, said on Wednesday at COP 29, the UN conference on climate change in Baku (Azerbaijan).According to a press release from the relevant ministry, Romania, Greece and Bulgaria organized a high-level event for the Vertical Gas Corridor and initiated a cooperation document in ...
Inauguration of Group 5, Rovinari Thermal Power Plant Coal in Romania’s Energy Transition
Thursday, November 14, 2024
Inauguration of Group 5 at the Rovinari Thermal Power Plant, in Gorj County, represents a significant investment in Romania’s energy sector, highlighting the continued role of coal-fired energy in the context of the energy transition. This initiative comes at a critical moment for Europe, as Germany and Poland, along with other European countries, navigate the challenges of the ...
Romania to sign most important project for Romanian energy sector, reactors 3 and 4
Thursday, November 14, 2024
Romania will sign this week the project for the construction of reactors 3 and 4 at Cernavoda nuclear power plant, the Minister of Energy, Sebastian Burduja, announced on Tuesday in a video post on Facebook from Baku (Azerbaijan)."I am here at the most important annual event for energy and climate. It is a meeting where more than 40,000 people came from all over the world and here I wanted to convey Romania's message to everyone. ...
40 MW photovoltaic park inaugurated in Arad County on investment of 40 million euros
Thursday, November 14, 2024
A 40 MW photovoltaic park that can supply energy to 17,000 households was inaugurated on Monday in Vladimirescu commune, Arad County, following a private investment of 40 million euros, with the production capacity to be expanded in the following years, according to the local authorities.The president of the Arad County Council, Iustin Cionca, announced, through a press release, that the investment belongs to the Austrian company ...
EnergyMin Burduja: We are prepared for 2024-2025 winter, as gas storage facilities are filled 101pct
Thursday, November 14, 2024
The filling rate in storage facilities exceeds 101%, higher than the European average, and this winter Romania is even in a better position than last year, Energy Minister Sebastian Burduja said on Monday."With certainty, we are prepared for the 2024-2025 winter, and we are doing even better than last year (in terms of natural gas stock). We are still in overfill, with a filling rate of over 101%, more than the European average. In fact, this ...
OMV Petrom's first large photovoltaic project execution begins
Thursday, November 14, 2024
OMV petrom begins the execution of its first photovoltaic project, as the company awarded the EPPCC contract for the photovoltaic plant in Isalnita to an association of Romanian companies, according to an OMV Petrom press release.OMV Petrom, the largest integrated energy producer in Southeastern Europe, signed an EPCC - Engineering & Design, Procurement, Execution & Commissioning - type contract for the Isalnita solar project. The ...
Insolvent hydropower constructor Hidroconstructia to come up with reorganisation plan in early 2025
Thursday, November 14, 2024
The insolvent hydropower and hydrotechnical construction company, Hidroconstructia, informs that it will submit, for the approval of creditors, a viable reorganisation plan in the first quarter of 2025, once the appeals settlement process is completed.According to a company release sent on Friday, the recovery plan of Hidroconstructia, the largest Romanian contractor in the field of hydropower constructions, defines the strategic priorities, ...
Romania draws EUR 13 billion euros in non-repayable funds for energy
Thursday, November 14, 2024
In the last year and three months, non-repayable funds of about EUR 13 billion euros were drawn to Romania's energy sector, because the private sector was a partner that came up with projects and owned investments, Energy Minister Sebastian Burduja said on last Thursday evening."The reality is that without you, we simply cannot do what we set out to do. In the energy sector, in the last year and three months, under my tenure, we managed ...
AEI head predicts post-capping end-consumer electricity prices between RON 1.03 - 1.15 per kWh
Thursday, November 14, 2024
The price of electricity at the end consumer after the price cap is removed on April 1, 2025 will range between RON 1.03 - 1.15 per kWh, VAT included, which would mean a 21% price increase for those with a consumption of over 255 kWh/month and by 51% for those who use less than 100 kWh/month, said president of the Smart Energy Association (AEI) Dumitru Chisalita, as he made a prediction of the electricity prices after the cap expires."The ...
Greece’s PPC working on 727 MW solar power project in Romania
Thursday, November 14, 2024
PPC Renewables Romania applied for a technical grid connection approval for a 727 MW photovoltaic project. Upon a current acquisition, the Greek company will top 1.3 GW in installed capacity in Romania. It is targeting 2 GW by the end of 2026, ...